Trustmark (NASDAQ:TRMK) Stock Rating Upgraded by Keefe, Bruyette & Woods

Trustmark (NASDAQ:TRMK) was upgraded by equities researchers at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, Briefing.com reports. The firm currently has a $36.00 target price on the financial services provider’s stock, up from their previous target price of $30.00. Keefe, Bruyette & Woods’ price objective points to a potential upside of 22.62% from the company’s current price.

Other research analysts have also recently issued reports about the stock. StockNews.com upgraded shares of Trustmark from a “sell” rating to a “hold” rating in a report on Friday, April 19th. TheStreet upgraded shares of Trustmark from a “c+” rating to a “b” rating in a report on Tuesday, January 23rd. Piper Sandler restated a “neutral” rating and set a $29.00 price target on shares of Trustmark in a report on Tuesday, March 26th. Truist Financial boosted their price target on shares of Trustmark from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, April 1st. Finally, DA Davidson restated a “neutral” rating on shares of Trustmark in a report on Monday, January 15th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Trustmark currently has a consensus rating of “Hold” and an average target price of $31.67.

Trustmark Trading Up 6.6 %

NASDAQ:TRMK opened at $29.36 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.85 and a quick ratio of 0.84. The firm has a 50-day moving average of $26.74 and a 200-day moving average of $25.43. The company has a market cap of $1.80 billion, a PE ratio of 11.42 and a beta of 0.82. Trustmark has a one year low of $18.96 and a one year high of $29.84.

Trustmark (NASDAQ:TRMK) last posted its earnings results on Tuesday, April 23rd. The financial services provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.60 by $0.08. The company had revenue of $288.55 million during the quarter, compared to the consensus estimate of $187.03 million. Trustmark had a net margin of 13.82% and a return on equity of 10.16%. During the same period in the previous year, the firm posted $0.82 earnings per share. As a group, equities research analysts expect that Trustmark will post 2.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC boosted its stake in Trustmark by 4.8% in the third quarter. Commonwealth Equity Services LLC now owns 12,824 shares of the financial services provider’s stock valued at $279,000 after acquiring an additional 587 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Trustmark by 3.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,802 shares of the financial services provider’s stock valued at $775,000 after acquiring an additional 1,047 shares during the last quarter. Headlands Technologies LLC purchased a new position in Trustmark in the third quarter valued at about $28,000. Swiss National Bank boosted its stake in Trustmark by 1.0% in the third quarter. Swiss National Bank now owns 127,500 shares of the financial services provider’s stock valued at $2,771,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Trustmark by 11.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,818 shares of the financial services provider’s stock valued at $385,000 after buying an additional 1,449 shares in the last quarter. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

About Trustmark

Trustmark Corporation operates as the bank holding company for Trustmark National Bank that provides banking and other financial solutions to individuals and corporate institutions in the United States. The company operates through three segments: General Banking, Wealth Management, and Insurance. It offers checking, savings, and money market accounts; certificates of deposits and individual retirement accounts; financing for commercial and industrial projects, income-producing commercial real estate, owner-occupied real estate, and construction and land development; and installment and real estate loans, and lines of credit, as well as treasury management services.